Important news, 6/21/2021: The Board added an additional waiver to the monthly service fee. As of July 1, 2021, the $5 monthly service fee will be waived for the following accounts: More Info
At the Van Cortlandt Cooperative Federal Credit Union, we offer a variety of open-end consumer loans designed to provide our members with a range of choices so each can choose a product that meets his or her needs and goals. The information below is designed as a basic overview of these loans. Our loan officers are happy to answer your questions and provide further information and documentation on each loan type. Call (718) 549-5858 for details.
Personal Line of Credit 14% APR
A Personal Line of Credit is designed to allow members an opportunity to establish an available cash reserve, and offers:
Overdraft Protection 18% APR
Overdraft Protection is a line of credit which is tied to the member’s checking account. During the nightly computer update, if the system calculates that the account will become overdrawn, it will transfer funds to cover the overdraft. Transfers are done in increments of $50, so even if the customer is overdrawn $.01 it will still transfer $50. Each time your ODP account is accessed, a fee of $5.00 will be charged to your loan account.